Investment by companies in Scotland, held back in recent months by uncertainty over the independence referendum, is likely to increase again in the final months of the year, according to Chief Investment Officer Haig Bathgate.
There's anecdotal evidence that businesses refused to commit to major investments in the run up to the referendum because of the unclear political outlook. That in turn may have a detrimental effect on Scottish gross-domestic-product figures for the July-September period. Now that the vote has taken place, and as businesses feel more comfortable planning for the future, we are likely to witness increased GDP for the final quarter of the year when those figures are published in 2015.
Still, growth in Scotland as well as in the rest of the UK, is dependent in large part on developments in Europe, where there have been fears that the economy there remains moribund. There is however no shortage in commitment on the part of European policy makers to stimulate the economy and those measures will take time to come through. Encouragingly, the investors in the region that Turcan Connell Asset Management talks to are reporting a more positive picture from the companies on the ground that's not yet evident in the official statistics.
Haig, speaking on BBC Radio's Good Morning Scotland, also commented in advance on earnings at clothing retailer Moss Bros.
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